Key Highlights
- Revenue grew to ₹480 crore in FY25 from ₹88 crore in FY17 (8-year CAGR: 23.62%)
- Net profit increased to ₹22.9 crore (8-year CAGR: 20.95%)
- Order book stood at ₹175 crore for near-term visibility
- Capex of ₹100 crore completed
- additional ₹150 crore planned in 1–2 years
- Company targets ₹1,000 crore revenue by FY27–28
- Chennai plant to be operational by December 2025
Ice Make Refrigeration Limited (NSE: ICEMAKE), a refrigeration solutions provider, announced strong FY25 results and outlined its expansion strategy at the company’s 16th Annual General Meeting.
The company reported revenue of ₹480 crore in FY25, compared with ₹88 crore in FY17, registering an eight-year CAGR of 23.62%. Net profit rose to ₹22.9 crore, reflecting a CAGR of 20.95% over the same period. Its order book stood at ₹175 crore, offering clear revenue visibility.
Chairman and Managing Director Chandrakant Patel said the company is targeting ₹1,000 crore in revenue by FY27–28. To support this goal, Ice Make has already completed ₹100 crore in capital expenditure and will invest up to ₹150 crore more over the next two years.
The company is also expanding into new verticals such as commercial freezers and continuous puff panels, expected to add ₹150 crore in FY26. In addition, its Chennai plant is being relocated and will be operational by December 2025.
Patel added that growing demand for cold chain infrastructure in agriculture, food processing, pharmaceuticals, and logistics will remain a key driver of growth.